Aug 01 2011

More house stuff — inspections, etc

We had our home inspection this weekend. I chose an inspector on Angie’s List because he had tons of positive reviews and nothing negative. He was thorough and didn’t mind all of our questions, and his report was easy to understand. We opted for the extra termite, mold and radon inspections and are still waiting for the mold results.

No major defects were discovered, but there were a few deferred maintenance items that we would like the seller to handle. Our realtor put together a buyer’s response sheet listing all of the items we’d like them to handle and we are waiting to hear back now on how they will proceed.

A relocation company is handling all of this now, so I think they would probably prefer to negotiate a dollar amount and just give us the money to do the repairs ourselves. We’ll see. I hope they are reasonable.

I obtained quotes from a variety of home insurance companies and also gave them our vehicle information to see if bundling our policies would be cheaper overall. It was! Our car insurance will go down to probably $380/6 months for the pair. Our homeowner’s policy will be around $511/year roughly. That’s about $20/month cheaper than the estimate my mortgage company gave to us. We’ll take it. Of course, it’s important to make sure the company is a reputable one in case we ever need to file a claim.

The mortgage lender is a local company who works with Indiana Housing programs (and others, too). That’s why we chose them — so we could get our mortgage credit certificate and save a ton of money on our taxes each year. We couldn’t go through one of those internet lenders that way, since only certain lenders can do that program.

Our lender has been fantastic at keeping in touch throughout the process. I love the level of customer service they are providing.

They will order the appraisal soon.

Our purchase agreement included that the seller will pay for one year’s worth of a home warranty, up to $425. We get to choose the company, so if you have a home warranty and have had to file a claim, please let me know which company it was and if you were satisfied with their response. It seems like a lot of home warranty companies aren’t that great of a deal, and might not be worth it.

Lastly, I’m starting a list of things we’ll need to buy immediately. Things like carbon monoxide detectors, baby-proofing things and that sort of thing. My great-aunt is in a nursing home and is selling everything in her condo and the condo itself, so we were able to get things like a garden hose, some outdoor tools, and big trash cans and the like. That’s so helpful, because those little items really do add up!

If all goes as it should, we’ll be closing in early September. Just one more month in this apartment. YAY!

7 Responses to “More house stuff — inspections, etc”

  1. Does Indiana still have the homestead exemption? (I think that’s what it was called.) If it’s your primary home you get a break on taxes. Check with the county recorder or assessors office.

  2. We had a home warranty with American Homeshield. I would not recommend them. We used then twice, once for a plumbing problem that left us without water for three days, and once to replace a water heater that ceased working and left us without hot water for 5 days in the dead of winter. In both cases it took a long time for them to have the plumber come out, and he had to keep calling them to verify that they would cover what he was doing, and I do mean every little thing. The best part was hearing him say “no, they did not do anything to cause the problem”over and over and over.I think he said it out loud just for our benefit. Good luck with your home purchase!

  3. I don’t know the name of it, but property taxes are capped at 1% of the assessed value. I don’t know if there are exemptions that make it even better but I’ll check it out!

  4. Thanks for letting me know, Sue!

  5. Yes, IN has the homestead exemption.

  6. American Homeshield
    I second the no vote on this one! Nothing that broke was ever covered by it.

  7. Write the date on the back of the carbon monoxide detector. They can go “bad” in 7 years. By “bad” I mean you will find your pregnant-self, small child(ren)/pet(s) suddenly at a neighbor’s house while 5 emergency vehicles and 10-15 personnel respond to your non-emergency call, to tell you that those detectors start to randomly go off after 7 years. Fun times.

Sorry, comments for this entry are closed at this time.

Hey! I'm Kacie, wife to Shane and mother to Jonathan (7), Vivienne (5) and Amelia (2) . I write about my family's finance: how we save money, improve our spending, and plan for the future.

I hope I can inspire and encourage you to improve your situation. See disclosure.

I'm adopting a much slower-paced posting schedule, and treating this as a hobby blog now.

Keep in Touch!
Like me on Facebook Follow Me on Twitter RSS Feed

Subscribe to my email updates:

Web Statistics